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BNT-USD.CC
id: 733

BProtocol Foundation "Bancor" (BNT) Unregistered Tokens Case

W.D. Texas
Court
23-CV-00533
Case number
12 Jun 2017
Class period Start
11 May 203
Class period End
ANY INVESTOR/USER who suffered losses from BProtocol Foundation "Bancor" (BNT) unregistered securities can JOIN CASE!

On June 12, 2017, Bancor completed its ICO, raising a record $153 million through offering and selling unregistered securities in violation of federal securities laws.

On June 19, 2022, a spike in withdrawals triggered significant payment obligations to LP Program investors.
  • Instead of making those payments, they unilaterally purported to “suspend” impermanent loss protection, which meant that withdrawing LPs incurred the very losses that Bancor had promised to “100% protect” against.
  • The program also imposed additional severe haircuts on withdrawing LPs, initially without disclosing them at all, but instead simply failing to pay withdrawing LPs amounts they were indisputably owed under the terms of their investment in the LP Program.
  • Investors lost tens of millions of dollars as a result. In many instances, the loss was catastrophic for the individual investor.
As a result of the alleged adverse actions and omissions, BNT Investors were seriously damaged.
Case Status
Attorney Investigation
Alleged Offence
Fraud
Malpractice
Negligence
Breach of Fiduciary duty
Suspected Party
Directors
Management
Shareholder
Influencer
Hedge Fund
Security Type
Crypto Asset
Trade Direction
Long
Shock Event Date
11 May 2023
Filing date
11 May 2023
Collecting participants…

Bancor

Symbol
BNT-USD.CC
Category
token
MarketCap
$56M
All Time Low
$0
All Time High
$24